(navigation image)
Home American Libraries | Canadian Libraries | Universal Library | Community Texts | Project Gutenberg | Children's Library | Biodiversity Heritage Library | Additional Collections
Search: Advanced Search
Anonymous User (login or join us)
Upload
See other formats

Full text of "Financial Information"

fm 







4 If ^j 



DIRECT QUESTIONS ON FINANCE 
AND LABOR VIZ: 

ADDRESS: 

Oakwood College 
Huntsville, AL 35806 
PHONE: (205) 837-1630 to 39. 

PERSONNEL: 

■ Treasurer Ext. 201 

■ Director, Student Accounts Ext. 215 

■ Director, Financial Aid Ext. 527 

■ Coordinator, Student Labor Ext. 263 

EQUAL OPPORTUNITY: 

Oakwood College does not discriminate on the basis of race, 
color, sex, handicap or national origin in the recruitment and 
employment of faculty and the operation of any of its programs 
and activities as specified by federal laws and regulations. . . . 

MOTTO: 

Enter to Learn, Depart to Serve 

"A mind is a terrible thing to waste!" 



— CONTENTS — 

INTRODUCTION 2 

CALENDAR OF EVENTS 3 

MANAGING YOUR MONEY 4 

FINANCIAL INFORMATION 5 

SCHEDULE OF CHARGES 5 

METHOD OF PAYMENT 6 

REMITTANCE 7 

FAMILY DISCOUNT 7 

DEPOSITS AND CHARGES 8 

REFUND POLICY 9 

VETERAN BENEFITS 10 

TERMINAL LEAVE 11 

STUDENT WORK PROGRAM 11 

FINANCIAL AID 12 

YOU MAY BE ELIGIBLE 12 

HOW TO APPLY 12 

SCHOLARSHIPS 16 

GRANTS 17 

LOANS 17 

WORK OPPORTUNITIES 18 

OTHER SOURCES OF ASSISTANCE 19 



OaKwuod Goiiege Library 
Huntsville, Alabama 35806 



INTRODUCTION: 

Oakwood College is incorporated under the laws of the state of 
Alabama as a nonprofit institution. 

The General Conference has provided substantial investment in build- 
ing, equipment, auxiliaries and operational appropriations to meet the needs 
of quality education. 

Therefore, the amount which the student pays for his basic educational 
expenses is modest when compared to that of other private liberal arts 
colleges. 

Economic conditions may make it necessary for the College Board of 
Trustees, or duly authorized administrative officers, or Finance Committee, 
to make changes in the published bulletin. 

Application Procedures: See Admissions section of the Bulletin. 

Actions voted by the College Board, Faculty, or Finance Committee at 
any time shall have equal force or, if necessary, supersede statements 
published in this Bulletin. 



COLLEGE ADMINISTRATION 
OAKWOOD COLLEGE 
HUNTSVILLE, AL 35806 



CALENDAR OF EVENTS 

1984-1985 

EVENT FALL WINTER SPRING 

Faculty Workshop Aug. 13, 14 — — 

Faculty Colloquium Aug. 14-18 — — 

Orientation and Testing Aug. 27-30 — — 

Registration — Freshmen .... Aug. 31 — — 

Registration — All Students . Sept. 2-4 Dec. 30 - Jan. 2 Mar. 17-19 

Instruction Begins Sept. 5 Jan. 3 Mar. 20 

Late Registration Sept. 5 Jan. 3 Mar. 20 

Last Day to Enter Classes . . . Sept. 14 Jan. 11 Mar. 29 

Full Tuition Refund Sept. 14 Jan. 11 Mar. 29 

Advisees Rosters Due Sept. 28 — — 

Mid Quarter Oct. 12 Feb. 6 Apr. 23 

Last Day to Drop a Course . . Oct. 12 Feb. 6 Apr. 23 

English Proficiency Oct. 14 Jan. 27 — 

Senior Program Check Oct. 15-30 — — 

Departmental Examinations . . Oct. 15-19 .... Feb. 11-15 .... Apr. 8-12 

Pre-Registration Oct. 15 - Nov. 9 — — 

Pre-Exam Week Nov. 12-15 . . . Mar. 4-8 May 15-22 

Study Days Nov. 14, 15 . . . Mar. 7, 8 May 21, 22 

Final Exams Nov. 16, 18-20 Mar. 10-13 . . . May 23-27 

Senior Grades Due Nov. 27 Mar. 15 May 28 

All Grades Due May 29 

Commencement June 2 



MANAGING YOUR MONEY 
AT OAKWOOD COLLEGE 

As a Student you are probably living the most frugal years of your life 
and you may be learning for the first time how to manage your own 
resources . The purpose of this section is to help you manage the amount of 
money you have in the most efficient manner. 

Here are some suggestions to help you get the most for your money. 




BOOKS 

Buy used books. 

Share or exchange books with classmates when possible. 

Check our library volumes or use texts placed on reserve in the library. 

Books are a necessity. Many books serve as a reference for your field of 

study, and buying them now might be wiser than trying to locate them 

later. 




TRANSPORTATION 

Buses and car pools make sense and save money too. 

If you live on campus or nearby try to ^et along without a car. 

Oakwood College budgets just do not allow for the purchasing of au- 
tomobiles. Ask yourself — is a car a necessity or a status symbol?? 
Walking or bike riding will do the job and you will enjoy the exercise 
and out doors. 




FOOD 

(Commuting students) 

Look into Food Stamps — you may be eligible. 
Make a food budget and meal plan, and stick to both. 
When shopping: 

Buy store brands — they are generally less expensive. 

Buy foods in season. 

Buy in bulk. 

Use coupons and look for sales. 



PERSONAL EXPENSE ^•^T 

This category is the most difficult to estimate and control. If you exceed 
your budget, it will probably be in this category: so you should watch 
carefully where your gas money goes. 

Carry little cash to avoid impulse buying. 
Plan ahead for predictable expenses (laundry, toiletries). 
Set aside money for gifts and special occasions. 

Plan well in advance for clothing expenses. Ask yourself — Must I dress to 
impress? 

4 



FINANCIAL INFORMATION 

SCHEDULE OF CHARGES PER QUARTER 
1984-1985 



Non- Campus 

Resident Resident Apartment 
Students Students Students 

Tuition Package, per quarter: $ 1 ,395 $ 1 ,395 $ 1 ,395 

Tuition package applies to residence hall and 
non-residence hall students taking 13 to 16 
hours per quarter. 

Residence Hall Package, per quarter: $765 — — 

Includes room, board. 
Students Living in Campus Apartments, 

per quarter: — — $450 

($519 - 2 Bedroom; $450 - 1 Bedroom) 
General Fee (Student Association fee, ma- 
triculation fee, MV, Yearbook, Spreading 
Oak), per quarter: $35 $35 $35 

Total Charges Per Quarter $2,195 $1,430 $1,880 

The financial charges below may change for the 85-86 school year. 
Write the Business officer for these changes . 



TUITION RATES PER QUARTER 

13-16 hours $1,395 

9-12 hours 1,275 

1-8 hours 120 per hour 

For each hour above 16, add 90 per hour 

Late registration fee 25 



METHOD OF PAYMENT 

Student charges at Oakwood College are calculated on a Quarterly 
basis . One of the five payment plans outlined below must be selected by each 
student and/or their parents for payment of their account. 

PLAN I: CASH IN ADVANCE 
la) Each Year in Advance 

In these inflationary times, the college is prepared to guarantee its 
cuiTent tuition for those who pay in advance. 

In order to qualify for this payment plan, the student or parent must pay 
the full tuition, fees, room and board charges for a full year in cash* (three 
quarters) no later than registration date fall quarter. 

At the end of the school year (June) the College will give the student a 
10% refund on tuition (this does not include room and board) and fees and 
guarantee the current tuition rate for the next school year. 

Note: In order to qualify for this plan, the student must pay cash a year 
in advance and their tuition rates would be as follows: Their Freshman and 
Sophomore tuition rate would be the same as their Freshman year. Junior 
year tuition would be the same as the tuition in effect their Sophomore year, 
and the Senior tuition would be the same as the tuition rate that was in effect 
their Junior year. 

lb) Quarter in Advance 

When a student pays the total estimated charges /or 9 hours or more 
(tuition, fees , room and board) in cash* at registration time, a discount of 5% 
is allowed on tuition and fees (this does not include room and board) . 

Students taking 8 hours or less will be required to register under this 
plan. 
* Cash does not include federal aid (loans , grants , work) or scholarships and subsidies . 

PLAN II: MONTHLY PAYMENT PLAN 
2a) Monthly Payment to Oakwood 

The monthly payment plan has been designed for dependent students 
and their parents as a way to plan their educational costs by paying a standard 
monthly payment each month. 

In order to qualify for this plan you must: 

a) Be a dependent student. 

b) Have a minimum of $4,500 in verified credits including a minimum 
of $ 1 ,000 cash to be applied to your account during the school year 
in September (Bank Loans, Pell Grant, Scholarships, Conference 
Subsidies, cash, etc.). Work is not included in these credits; how- 
ever, work earned will be calculated to determine adjusted pay- 
ments. 

Note: Students should apply for Bank Loans and Pell Grants no later 
than July 15. It takes 6-8 weeks processing time. 



c) Have the ability to maintain a monthly payment in the amount 
determined by the Director of Student Accounts to be paid in eight 
equal payments beginning on October 10. 

If you qualify for this plan, please contact the Student Accounts Office 
for additional information. 

2b) Monthly Payment to Outside Agency 

Realizing that many parents prefer to meet educational expenses out of 
current income, we participate in several nationally known Tuition Payment 
Plans. 

These plans provide the following benefits: 

a) Allow you to sign up for a plan to cover educational expenses for a 
quarter or complete school year. 

b) Have predetermined payments so that financial plans can be made in 
advance. 

c) Spread payments over a period of time. 

d) If the account is insured, pay off contract in full on the death or total 
disability of the person responsible for payments. 

For additional information on these plans , please contact the Director of 
Financial Aid. 

PLAN III: TWO-PAYMENT PLAN 

Students are required to pay a deposit of $1,650 for 13-16 hours. 
Students who pay the deposit in the form of financial assistance (Bank 
Loans, Pell Grant, Conference Subsidy, etc.), must pay a minimum of $300 
in cash. A bill will be sent to the Student and/or financial sponsor for the 
balance due on or before final examination date for the quarter. 

Failure to pay the balance due by exam time may result in the loss of 
grades. 

REMITTANCE 

PAYMENT OF REGISTRATION FEES SHOULD BE MADE IN 
THE FORM OF: BANK DRAFTS, MONEY ORDERS, CASHIER'S 
CHECKS, CERTMED PERSONAL CHECKS OR CASH. MAKE ALL 
CHECKS PAYABLE TO OAKWOOD COLLEGE. 

FAMILY DISCOUNT 

When two students from the same immediate family are in attendance at 
Oakwood College, each taking twelve quarter hours or more and having the 
same financial sponsor, a tuition rebate of 5% will be applied to each 
statement. A 10% rebate will be applied to each account when three or more 
students have the same financial sponsor and are taking twelve or more 
quarter hours each. Send payments directly to the Student Accounts Office 
and indicate the name of student to receive credit. 



DEPOSITS AND CHARGES 

A) RESIDENCE HALL DEPOSITS 

All students requesting residence hall housing must pay a $75 
housing deposit prior to registration in order to guarantee campus 
housing. The room must be claimed before late registration occurs. 

If this is not paid before the day of registration, the deposit will be 
added to the entrance fee. This deposit is held in trust until (upon receipt 
of a satisfactory inspection report) the student vacates his room or 
apartment, leaves it in good condition, pays off his account in full, and 
turns in the keys. At the end of the year, the Student Accounts Office 
will then issue a check for the deposit to the student. Should the room or 
apartment be left untidy or damaged, the deposit will be forfeited. 

In addition, the housing deposit will be regarded as security against 
damage to institutional property throughout the course of the school 
year. The cost of any arrangements necessary to correct the misuse or 
abuse of College property and equipment on the part of a student will be 
charged to that student and the amount will be deducted from the 
housing deposit. Excessive abuse, the correction of which requires the 
use of the entire deposit before the end of the school year will necessitate 
a new cash deposit before the student will be permitted to register the 
following quarter. In cases where the abuse is judged to be a chronic 
characteristic of the student, he may be asked to give up his quarters and 
withdraw from the residence hall. This, of course, will jeopardize the 
student's continued matriculation at the College. 

B) MUSIC CHARGES 

Students who major or minor in music will be charged the regular 
tuition rates. A student taking music without credit should pay the 
following: Nine half- hour lessons — $50.00; Band fee per quarter — 
$10.00. 

Students who register for music lessons are expected to continue 
taking lessons throughout the quarter. No refund is made if lessons are 
dropped after the second lesson of any quarter for reasons other than 
prolonged illness or withdrawal from school. A student who drops 
within the first week will be charged the single lesson rate of $6.00 per 
lesson. A student is entitled to take, but may not receive, a grade for less 
than a minimum of nine lessons. Lessons lost because of the student's 
irregularity in attendance may not be made up. 

C) HEALTH INSURANCE CHARGES 

All students must complete a Health Insurance Form indicating 
whether or not they have medical coverage. Students who have their 
own insurance must provide documentation (copy of insurance card). 
Students without documentation will be charged for Health Insurance 

(or policy) on a yearly basis. This fee is $ per year billed Fall 

Quarter. 



D) LAB FEES 

Students taking classes designated as having a lab will be charged 
$15 per quarter. These charges will be applied to their account after 
registration each quarter. Nursing students will be charged a lab fee of 
$35.00 per quarter. 

E) INCIDENTAL FEES (NO REFUND) 

Application Fee (Send Money Order) $10.00 

Auto Registration (per year) 15.00 

Band 10.00 

Change of Program 5.00 

Deferred Payment 25.00 

Diploma 10.00 

Entrance Exams 10.00 

Examination for Waiver 25.00 

Examination for Credit (per hour) 25.00 

Graduation Fee 40.00 

Graduation in Absentia 35.00 

Laboratory (Breakage, up to) 10.00 

Late Examination Fee 10.00 

Late Registration 25.00 

NLN Tests Actual Cost 

Nursing Laboratory (per quarter) 30.00 

Nursing Pin — School of Nursing Actual Cost 

Nursing Uniform (Men and Women) Actual Cost 

Nursing Transportation Actual Cost 

Traffic Violations (See Traffic Regulations) 

Removal of Incompletes (each) 3.00 

Room Deposits — Residence Halls 75.00 

Room Deposits— Apartments 125.00 or 150.00 

Return Check Handling Fee (per check) 10.00 

Student Teacher Transportation Actual Cost 

Transcript of Credits 2.00 

(Transcripts will not be issued for students whose accounts are not paid 

in full or who are delinquent in payment of school or National Direct 

Student Loans). 

CREDIT REFUND POLICY 
WITHDRAWAL 

When a student withdraws from all courses and leaves school, these 
practices are followed: 

1. Date of Withdrawal. The official date of withdrawal and the 
effective date of the calculation of a refund is the date on which the 
completed drop voucher is turned in to the Records Office. 

2. Tuition. A minimum charge of $50 is made if the student withdraws 
during the first 7 days after the published registration date. 90% is 
refunded if student withdraws 8- 14 days after the published registra- 



tion date. 60% is refunded if smdent withdraws 15-21 days after the 
published registration date. NO REFUND if a student withdraws 
more than 22 days after the published registration date. These 
charges apply to part-time as well as full-time students. 

3. Room and Board. These charges will be prorated on a daily basis 
(any part of a day is counted as a full day.) 

4. Identification Card. The student must return the ID card to the 
Smdent .Affairs Office to establish eligibility for refund. 

5 . Illness. Special consideration may be given for tuition refunds in the 
case of prolonged illness. 

6. Return Home. If the student does not have funds for return fare 
home, an emergency assistance may be granted, provided there is 
sufficient credit on the account. 

7 . Room Deposit. Refund wiU be made 30 days after the residence hall 
dean remms the signed residence hall contract to the Accounting 
Office. The College reser\'es the right to apply the deposit to any 
unpaid obhgations. 

8. Refunds. Credit refunds will be made 30 days after the monthly 
statement is received for the last month the smdent was in school, in 
order to be certain that all charges have been processed. For exam- 
ple, if a smdent drops out of school in December, a credit refund 
would not be made until after the Januar>- statement is prepared 
during the tlrst week of Februar\". 

9. Incomplete Registration. A smdent who completes the financial 
clearance process and does not complete registration must go 
through the official withdrawal process and will receive a refund 
based upon the poHcy above. 

If the smdent received financial aid during the current quarter, any 
credit balance over S 100 will be credited to the aid fund, with priority given 
to loans. Amounts less than SI 00 will be refunded to the person responsible 
for the smdent" s account. Cash refunds will not be made to the smdent 
without authorization from the parent or the fmancial sponsor. 

\TTER.\NS BENEHTS 

Payments under current veterans' benefit programs are made directly to 
the smdent; therefore, veterans must follow the same procedures in meeting 
financial obligations as apply to other smdents. 

Oak wood College is approved by the Veterans' Administration as an 
accredited training instimtion. Those who qualify for educational benefits 
should contact the nearest Veterans' Administration Office. A certificate of 
ehgibihty will be issued by the Veterans' Administration. Veterans are 
required to maintain satisfacton," progress according to the school pohcy. 

For application and further details, contact the Advisor to Seniors and 
Veterans in the Admissions and Records Office. 



10 



OVERSEAS STUDENTS 

Applicants from overseas are required to deposit a $ 1 ,600 fee plus one 
full year tuition in U.S. funds with the college business office prior to the 
issuance of the 1-20 form (1-20 Form is used in securing the U.S. student 
visa) . 

Students on resident visas, student visas, or visitor visas, will be 
required to present a budget to verify financial support for payment of 
account before official acceptance is issued by the Admissions office. This 
budget should show total cost of academic as well as living expenses, and 
how these expenses will be paid. Also, this statement should be notarized as 
being a true and accurate statement by the student and his sponsor (Refer to 
Admissions booklet). 

TERMINAL LEAVE PROCEDURES 

A student terminating or suspended from Oakwood College during any 
given quarter is required to obtain a terminal leave form from the Student 
Affairs Office, and obtain appropriate signatures. 

Identification Cards — The student must return his/her ID Card and/or 
check-out voucher to the Student Affairs and Student Finance Offices to 
establish eligibility for refund. 

STUDENT WORK PROGRAM 

Work opportunities for students are available in departments and indus- 
tries operated by the College and local private businesses. These employing 
agencies must serve their customers daily, necessitating a uniform working 
force. Student employees are responsible for meeting all work appoint- 
ments, to include working during examination weeks, breaks between 
quarters, and for satisfactory job performance. Work superintendents re- 
serve the right to dismiss students if their service is unsatisfactory. Should a 
student find it necessary to be absent from work, he must make arrangements 
with his work superintendent and Student Health Service if he/she is ill. 

When a student accepts employment, he is expected to retain it for the 
entire school year except in cases where changes are recommended by the 
school nurse or approved by the Student Labor Committee. Should a student 
receive opportunities for more favorable employment during a school term, 
the transfer must be made through the Student Employment Office with 
proper notice of up to two (2) weeks given the employing department. If a 
student's financial plan requires him to work, he must not drop his work 
schedule without making proper arrangements with the Director of Student 
Accounts. To do so could result in suspension from class attendance until 
proper arrangements are made. 

The student pay rate is not less than student rates set by the government 
wage-hour law. It may be higher if a student possesses special skills or 
training. To further encourage this, special rates are available for those 
students who can schedule 4-hour blocks. As an indication of the College's 
commitment to its student labor program, the classes are scheduled so that 
students may arrange their work into 4-hour blocks. 

11 



YOU MAY BE ELIGIBLE FOR FINANCIAL AID 

Each of the financial aid programs has specific requirements. However, 
there are some general eligibility requirements for the programs described in 
this brochure. In order to be considered for financial aid at Oakwood 
College, you must: 

1 . Be a U . S . Citizen , Permanent Resident (1-151 visa) , resident of the 
Trust Territories of the Pacific; 

2. Be accepted for admission to Oakwood College. A financial aid 
offer will be made only after you have been officially admitted to the 
College. 

3. Be enrolled for a minimum of 6 credit hours per quarter. 12-16 
credit hours are considered full-time. NOTE: You will not complete 
a bachelor's degree within 4 years by taking only 12 credit hours per 
quarter. [192 hours are required for graduation]. 

4. Maintain satisfactory academic progress in your course of study. 
For financial aid purposes , satisfactory progress is defined as being 
permitted to re-enroll in your particular school or program. 

5. Demonstrate financial need. Financial need is the difference be- 
tween the determined budget and all resources available to the 
student including the parents' contribution, student's contribution, 
and any outside aid the student is eligible to receive. 

HOW TO APPLY 

In order to apply for financial aid at Oakwood College you must 
complete the following steps: 

I. Complete the Financial Aid Form (FAF) and mail it to the College 
Scholarship Service as soon after January 1 as possible. 

a. A FAF must be filed each year you wish to apply for financial aid. 

b. If you are married to another Oakwood College student you both 
should apply for aid with separate applications. 

c. Read the instructions on the application carefully. If you have ANY 
questions regarding fiUing out the form, please contact our office. 
The FAF is designed so that information can be filled in easily and 
accurately. 

d. Explain any conditions that may affect your family's ability to pay 
for college, such as lengthy illness, loss of employment, or unusual 
expenses. 

II. Mail the completed FAF to College Scholarship Services (CSS) to the 
address on the front for processing with a check or money order as 
indicated. It is highly recommended that you obtain a certificate of 
mailing from the post office when you mail your FAF, 



12 



in. Submit the necessary supporting documents to the Student Aid Office as 
early as possible. 

a. If you have attended any post- secondary institution since leaving 
high school (other than Oakwood College) you must complete a 
Financial Aid Transcript. Send a completed form to each school you 
have previously attended, whether or not you received aid at that 
school. This form is used to determine your continuing eligibihty in 
the federal student aid programs. 

b. To verify the income reported on your FAF you must submit a copy 
of your own, your parents' and/or spouse's (if applicable) 1983 
Federal Income Tax Return (Form 1040, 1040a or 1040EZ). 

1 . Submit your own tax return only if you are financially indepen- 
dent of your parents according to federal or state criteria. 

2. Submit your pjirents' tax returns if you are financially dependent 
on your parents according to federal or state criteria. (If your 
parents file separately, submit copies of both returns). 

3. Submit your spouse's tax return if you are married and file 
separate returns. 

4. Submit a signed copy of the Statement of Educational Purpose/ 
Selective Service requirement form. 



STANDARDS OF SATISFACTORY ACADEMIC 
PROGRESS TO RECEIVE STUDENT FINANCIAL AID 

'*The concept of Satisfactory Progress goes beyond good standing to 
mean evidence oi positive movement toward the student's degree." 

Oakwood College (as are all institutions participating in the Federal 
Student Aid Programs) is required by the Higher Education Act of 1965, as 
amended, to establish Standards of Satisfactory Academic Progress for 
students receiving assistance through the below named programs: 

— National Direct Student Loan (NDSL) 

— College Work-Study (CWS) 

— Supplemental Educational Opportunity Grant (SEOG) 

— Guaranteed Student Loan (GSL) 

— Parent Loans to Assist Students (PLUS)/ Auxiliary Loans to Assist 
Students 

— Pell Grant 

— State Incentive Grant Program 



13 



QUALITATIVE COMPONENT 

In order to receive financial assistance you must maintain the below 
grade point average in your field of study: 



All Students 
1st academic year (each quarter) 
2nd academic year (each quarter) 
3rd academic year (each quarter) 
4th academic year (each quarter) 
5th academic year (each quarter) 



Required GPA 
1.50 
1.70 
1.90 
2.00 
2.00 



The payment of a National Direct Student Loan (NDSL), College 
Work-Study Program (CWSP), Supplemental Educational Opportunity 
Grant (SEOG), Pell Grant and State Student Incentive Grant; and prior to 
each completion of a Guaranteed Student Loan (GSL) or Plus Loan 
Application/ Auxiliary Loan Application will necessitate the college review 
of your academic progress at the end of each quarter. 

QUANTITATIVE COMPONENT 

You will be provided a total of five (5) years or 15 academic quarters 
during which you may receive financial assistance. During this five-year 
period, you must successfully pass the number of hours indicated below with 
the Grade Point Average as stated above. 

FIVE-YEAR CHART 



Year 
In School 


Hours to be 

Completed 

Per Year 


Quarter 


Hours to be 
Completed 
Per Quarter 


Percent of Work 

to be 

Completed 


Cumulative 

Percentage 

Of Work 


1st 


36 


Fall 

Winter 

Spring 


12 
12 
12 


18.75% 
19% 


19% 


2nd 


36 


Fall 

Winter 

Spring 


12 
12 
12 


37.5% 
19% 


38% 


3rd 


40 


Fall 

Winter 

Spring 


12 
12 
16 


58.34% 
21% 


59% 


4th 


40 


Fall 

Winter 

Spring 


12 
12 
16 


79.17% 
21% 


80% 


5th 


40 


Fall 

Winter 

Spring 


12 
12 
16 


20% 


100% 


5 Years 


192 hrs. 


15 Quarters 


192 hrs. 


100% 





14 



The cumulative number of hours which you must successfully pass will 
be checked at the end of each academic year (academic year for these 
purposes will run from the beginning of the Fall Quarter, to the end of the 
Spring Quarter) . You may use the Summer Session to make up any hourly 
deficiencies. If you decide to use the Summer Session to make up hourly 
deficiencies , you must see to it that the Financial Aid Office is notified prior 
to the beginning of the next academic year that you have successfully 
acquired the number of hours and/or Grade Point Average. 

Those persons deficient in hours or GPA will be removed at the end of 
the Spring Quarter. Aid will not be reinstated until the student has earned the 
required hours and/or improved his grade point average to the Grade Point 
Average required for his/her year of enrollment. 

TIME FRAME COMPONENT 
UNDERGRADUATE STUDENTS 

Full-time undergraduate students are eUgible to receive financial aid no 
more than five award years of attendance. Three-quarter time students are 
eligible to receive aid for no more than 7.5 years of attendance. Half-time 
students are eligible to receive aid for no more than ten years of attendance. 
At Oakwood College an award year includes the Fall, Winter and Spring 
Quarters. Enrollment in our Summer Session can assist a student who is 
deficient in hours or grade point average to re-establish eligibility, but the 
student must use his/her own funds. 

WITHDRAWALS 

Students may withdraw officially from the College only once during 
consecutive quarters while on financial assistance (Title IV) without finan- 
cial aid penalty during an award year. If the student withdraws while on 
financial aid the second time, he/she will lose financial aid eligibility. Any 
aid received prior to withdrawal will be counted in the cumulative eligibility 
(number of years of eligibility). To be eligible to again receive aid, the 
student must successfully complete the next enrollment period (quarter) 
using his/her own funds. 

APPEALS 

Students whose aid is denied may appeal to have aid reinstated only 
under the following condition: withdrawal for the second time while on 
financial aid. Appeals must be made to the Financial Aid Committee in 
writing; and, must speak specifically to the point. 

TRANSFER STUDENTS 

Transfer students will be considered eligible for financial aid during 
their first quarter of attendance at Oakwood College. Following the initial 
term, they must meet the same academic requirements as other students. 



15 



REINSTATEMENT 

Students who lose financial aid eligibility because of failure to maintain 
satisfactory progress towards a degree may reapply for financial aid after 
clearing the deficiency; no aid however will be retroactively granted. 



EFFECTIVE DATE 

Implementation of this policy shall begin with financial aid for the Fall 
Quarter of the 1984-85 Academic Year and remain enforced henceforth. 

Keep in mind that "By statute no waivers of the Satisfactory Progress 
Requirement by institutions for students who can demonstrate mitigating 
circumstances is allowed. All eligible students must be maintaining satisfac- 
tory progress in order to receive any Title IV grant, loan, or work assistance. 
The Secretary* has no authority to provide for waivers of this requirement. ' ' 

(*Refers to the Secretary of the U.S. Department of Education) 

[Reference: Federal Register, Thursday, October 6, 1983 — 34CFR Parts 668 and 690] 



SCHOLARSHIPS 



Name of Award 


Amount 


Contact 


Senior Class President 


$1,000 


Admissions 


Valedictorian 


$l,200-$2,000 


Admissions 


Salutatorian 


$l,000-$2,000 


Admissions 


Three-Way 


$300-$600 


Your Local Church 


Worthy Student 


$100-$200 


Recruitment 


Presidential 


President's 
Discretion 


President's Office 


Literature 


Based on Sales 


Literature Director 


General Academic 


$500-$2,000 


Admissions 


Student Body President 


$1,000 


Admissions 


Student Missionary 


$1,000 


Admissions 



16 



GRANTS 



Name of Grant 


Amount 


Contact 


Pell Grant 


$200-$ 1,900 


Financial Aid Office 


TfSEOG 


$200 minimum 


Financial Aid Office 


Alabama Grant 


$270-$540 


Financial Aid Office 



LOANS 



Name of Loan 


Amount 


Contact 


National Direct 
Student Loan 
(NDSL) 


Based on need 
and availability 
of funds 


Financial Aid Office 


Guaranteed 
Student Loan 
(GSL) 


$2,500 




Financial Aid Office 


G. E. Moseley 
Revolving Loan 


$300 




Business Office 


Gabriel-Hunt 
Revolving Loan 
for International 
Science Majors 


$500 




College 
Administration 



For details see "Your Financial Aid Resource Guide' 



17 



Campus 

Work opportunities 

College Work Study 

Students who need a job to help pay for their post secondary education 
may be eUgible for employment by Oakwood College under federally 
supported work- study programs. Students have to meet the same criteria as 
listed for other federal aid programs. In general, the salary you receive will 
be based on the current minimum wage, but it may be also related to the type 
of work you do and its difficulty. 

Campus Labor Program 

Employment to registered students who do not meet the qualifications 
to be on the Federal College Work Study Program (such as Internationals) 
but have a need for jobs to help pay for their post- secondary education at 
Oakwood College. 



18 



other Sources of 

Financial assistance 



Name 


Who Qualifies 


Whom to Contact 
for More 
Information 


Student 
Employment 


All students regardless of 
financial need 


Student 
Employment Office 


College Work 
Study 


Undergraduate students who 
demonstrate need 


Student Financial 
Aid Office 


Aid to Families 
with Dependent 
Children (AFDC) 
and Food Stamps 


Students who meet certain 
financial eligibihty criteria 


Your local office of 
the Department of 
Social Services 


Veterans 
Benefits 


Dependents of veterans who 
have died or are permanently 
disabled as a result of 
military duty. Veterans who 
have served on continuous 
active duty for 181 days or 
more between January 13, 
1955, and January 1, 1977. 


Your local veteran 
affairs office 


Vocational 
Rehabilitation 


Disabled students 


Your local office of 
the Alabama Depart- 
ment of Vocational 
Rehabilitation 


Social Security 


Students whose parents 
receive SS retirement or 
disability benefits, or they 
were eligible and are deceased. 


Contact your local 
Social Security 
Office 


Educational 
Allowance 


Currently enrolled full-time 
students whose parents are 
employed within the 
denomination. 


Have your parents 
contact their 
employer to see if 
you are eligible. 


Church & 

Conference 

Awards 


Currently enrolled full-time 
students 


Check with your 
church pastor and 
conference officials. 


Family 
Discounts 


Currently enrolled full-time 
students when there are two 
or more of one family enrolled. 


Check with 
Student Accounts 
Office. 



Also, the Financial Aid Office has a Scholarship Bank (SSBank). 

Private scholarships and those that are not related to Oakwood can 

possibly be located in the SSBank. It is completely automated and can be 

accessed through a computer terminal only. 



19 




FOR MORE INFORMATION 

ASK FOR 

"YOUR FINANCIAL AID RESOURCE 

G-U-l-D-E" 

FINANCIAL AID OFFICE, OAKWOOD COLLEGE 
HUNTSVILLE, ALABAMA 35806 



20 



Oakwood College Library 




Enter to Leorn 
Deport to Serve 



OAKWOOD COLLEGE 

Huntsville, Alabama 35806 



Nonprofit Organization 
U.S. POSTAGE 

PAID 

Permit No. 341 

Huntsville, AL 35807 



'^M-m^''^